Rare Earth Extraction Co Limited -
Rare Earth Extraction Co Limited
(Incorporated in the Republic of South Africa)
(Registration number 1989/003212/06)
Share Code: RCO ISIN: ZAE000005807
("Rareco" or "the company")
TRADING UPDATE
Further to the trading update published on 14 April 2003,
following the receipt of an order from Consol Glass Limited
("Consol"), Rareco proceeded with a project to mine and mill
feldspar in Namaqualand. After 3 months Rareco achieved the
objective of delivering milled feldspar to Consol at the rate
of 600 tons per month. All of the material supplied to Consol
by Rareco complied with the Consol specification. Halfway
through the delivery of this order, Consol abruptly cancelled
the balance of the order without credible explanation or
justification. Rareco is currently considering the
implications of what may be a breach of contract by Consol.
In the meantime Rareco has suspended production at its
feldspar mine and will only resume production if a
satisfactory contract can be concluded with Consol.
Cape Town
6 August 2003
Sponsor
SASFIN BANK LIMITED
Date: 06/08/2003 11:25:55 AM Supplied by www.sharenet.co.za
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